The government on Tuesday will launch an offer for sale to divest Axis Bank stake, it holds through the Specified Undertaking of Unit Trust of India (SUUTI). The Axis Bank’s SUUTI block is valued at about Rs 5,316 crore. The government plans to sell 1.98 per cent stake in the company as base offer, with an additional 1.02 per cent set aside as greenshoe option.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service